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Editor’s Note: Preliminary August and revised July labor market information are included in this release.
August 2024 Unemployment Rate Chart
August 2024 Employment Chart
FRANKFORT, Ky. (Sept. 19, 2024) — Kentucky’s seasonally adjusted preliminary August 2024 unemployment rate was 4.8%, according to the Kentucky Center for Statistics (KYSTATS), an agency within the Kentucky Education and Labor Cabinet.
The preliminary August 2024 jobless rate was up 0.1 percentage points from July 2024 and up 0.6 percentage points from one year ago.
The U.S. seasonally adjusted jobless rate for August 2024 was 4.2%, which was down from the 4.3% recorded for July 2024, according to the U.S. Department of Labor.
Labor force statistics, including the unemployment rate, are based upon estimates from the Current Population Survey of households. The survey is designed to measure trends in the number of people working and includes jobs in agriculture and individuals who are self-employed.
Kentucky’s civilian labor force was 2,061,504 in August 2024, an increase of 7,329 individuals from July 2024. The number of people employed in August increased by 4,719 to 1,962,452 while the number unemployed increased by 2,610 to 99,052.
In a separate federal survey of business establishments that excludes jobs in agriculture and people who are self-employed, Kentucky’s seasonally adjusted nonfarm employment decreased by 1,100 jobs to 2,039,300 in August 2024 compared to July 2024. Kentucky’s nonfarm employment was up 18,000 jobs or 0.9% compared to August 2023.
“The household and business surveys suggest that Kentucky’s labor market has loosened over the past few months,” said Clark. “On the labor supply side, more workers have entered the labor market over the last six months. Most of these workers appear to be finding employment. However, others are still looking for work and their entry into the labor market has pushed the state’s unemployment rate up. On the demand side, firms have reported having fewer jobs over the past two months.”
The government sector increased by 2,400 jobs from July 2024 to August 2024. The number of jobs increased by 2,400 in local government but was unchanged in both the federal government and state government subsectors. The total number of government jobs rose by 2,900 positions or 0.9% compared to August 2023.
“After declining in July, local government employment bounced back in August,” said Clark.
Kentucky’s manufacturing sector rose by 800 jobs from July 2024 to August 2024. The durable goods manufacturing subsector gained 100 positions in August, while the non-durable goods subsector saw an increase of 700 jobs. Kentucky’s manufacturing employment was down 2,100 positions or 0.8% compared to August 2023.
“Despite increasing in August, Kentucky’s manufacturers have generally reported fewer jobs over the last few months,” said Clark. “The job losses in Kentucky were concentrated among durable goods manufacturers, which reported employment levels in August that were 1.9% lower than August last year. However, Kentucky’s non-durable goods manufacturers have reported steady increases in employment and were up 1.2% over last year.”
The number of jobs in the state’s mining and logging sector was up by 100 positions from July to August. This sector had 800 more jobs in August 2024 compared to August 2023.
Jobs in the financial activities sector rose by 100 positions from July 2024 to August 2024. All the gains from July to August occurred in the finance and insurance subsector. Employment in the real estate, rental and leasing subsector was unchanged. This sector was down 1,000 jobs from August 2023.
The leisure and hospitality sector lost 100 positions in August. This sector reported 1,800 more jobs in August than one year ago. The accommodations and food services subsector was up by 100 positions in August. The arts, entertainment and recreation subsector decreased by 200 jobs from July to August.
Employment in Kentucky’s information services sector fell by 100 jobs from July to August. The industries in this sector include traditional publishing as well as software publishing; motion pictures and broadcasting; and telecommunications. The number of jobs in this sector was down 1,200 from one year ago.
Employment in the trade, transportation and utilities sector fell by 500 positions from July to August and was down 100 jobs compared to a year ago. In August, the wholesale trade subsector declined by 100 jobs; the retail trade subsector fell by 500 jobs; and the transportation, warehousing and utilities subsector grew by 100 jobs.
The other services sector was down by 600 jobs from July to August. This sector had 700 more positions in August 2024 compared to August 2023. This sector includes repairs and maintenance, personal care services and religious organizations.
The construction sector lost 700 jobs from July 2024 to August 2024, but was up 3,000 positions or 3.3% from one year ago.
The educational and health services sector decreased by 800 positions in August 2024. Employment in the health care and social assistance subsector fell by 900 jobs from July to August. The educational services subsector added 100 jobs. Since last August, this sector has grown by 13,600 jobs or 4.5%.
Employment in Kentucky’s professional and business services sector fell by 1,700 jobs or 0.7% in August 2024. From July to August, employment rose by 700 jobs in the professional, scientific and technical services subsector; fell by 100 positions in the management of companies subsector; and fell by 2,300 jobs in the administrative, support and waste management subsector. The sector was down 400 positions compared to August 2023.
Civilian labor force statistics include nonmilitary workers and unemployed Kentuckians who are actively seeking work. They do not include unemployed Kentuckians who have not looked for employment within the past four weeks.
Kentucky’s statewide unemployment rate and employment levels are seasonally adjusted. Employment statistics undergo sharp fluctuations due to seasonal events, such as weather changes, harvests, holidays, and school openings and closings. Seasonal adjustments eliminate these influences and make it easier to observe statistical trends. However, due to the small sample size, county unemployment rates are not seasonally adjusted.
Visit the Kentucky Center for Statistics website to learn more about Kentucky labor market information.
Follow the Kentucky Education and Labor Cabinet on Facebook and X (formerly known as Twitter) for the latest updates from the cabinet.
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